Workers at Target stores and distribution centers in places like New York, where competition for finding and hiring staff is the fiercest, could see starting wages as high as $24 an hour this year.
FILE - A hiring sign is in front of a Target store in Manchester, Conn., Nov. 39, 2021. The Minneapolis-based discount retailer said Monday, Feb. 28, 2022 that it will adopt minimum wages that range from $15 to $24 an hour, with the highest pay going to hires in the most competitive markets. It currently pays a universal starting wage of $15 an hour. NEW YORK —
The new starting wage range is part of a company plan to spend an additional $300 million on its labor force this year that will also include broader, faster access to health care coverage for its hourly workers Target set a new marker for the retail industry back in 2017 when it announced it would increase hourly wages to $15 by 2020. But U.S. labor-market dynamics have changed during the pandemic, with many employers. And many of Target's rivals are now paying a minimum of $15 per hour or more.
When Target first announced in 2017 it would pay $15 an hour by 2020, it was one of the first major retailers to do so. But during the pandemic, a number of rivals like Best Buy followed suit, with some surpassing Target. Costco raised its minimum hourly wages for workers from $16 to $17 last fall. Amazon’s starting wage is $15 per hour, and the e-commerce giant's nationwide average starting wage for jobs in transportation and fulfillment is $18 an hour.
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